Business Combination (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

Schedule of Aggregate Purchase Consideration

The aggregate purchase consideration was $1.0 billion, which was comprised of the following (in thousands):


Cash paid by the Company			$96,498
Fair value of Class A common stock and restricted stock awards issued by the Company			928,900
Fair value of replacement restricted stock units			3,861
Total purchase price			$1,029,259

Schedule of Recognized Asset Acquired and Liability

The allocation of the purchase price is preliminary and subject to change as the Company finalizes its assessment of the fair values of the assets acquired and liabilities assumed during the measurement period following the acquisition date. The preliminary fair values of assets acquired and liabilities assumed on the acquisition date are summarized as follows (in thousands):


Cash and cash equivalents			$50,792
Accounts receivable, net			13,418
Prepaid expenses and other current assets			2,205
Property and equipment, net			858
Operating lease right-of-use assets			1,080
Intangible assets, net			207,600
Goodwill			793,426
Other non-current assets			178
Total assets acquired			$1,069,557
Accounts payable			885
Accrued liabilities			7,036
Deferred revenue, current			25,414
Operating lease liabilities, current			283
Other current liabilities			31
Deferred revenue, non-current			309
Operating lease liabilities, non-current			797
Deferred tax liabilities, non-current			5,543
Total liabilities assumed			$40,298
Total purchase price			$1,029,259

The allocation of purchase consideration to the assets acquired and liabilities assumed based upon their estimated fair values as of the acquisition date is as follows (in thousands):


		Amount
Identifiable assets		$8,802
Total liabilities assumed	gg	(1,023)
Net assets acquired		7,779
Goodwill recognized		19,447
Total purchase price		$27,226

Schedule of Intangible Assets and The Estimated Useful Lives

The following table presents the amounts allocated to the intangible assets identified as of the date of acquisition and the estimated useful lives (in thousands):


	Fair Value	Useful Lives (in years)
Customer relationships	$36,100	12
Developed technology	161,800	5 - 7
Trade name	9,700	5
Total	$207,600

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

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